भाषाओं के विवाद कितने गम्भीर और निर्णायक होते हैं इसे भारतीय महाद्वीप से अधिक और कौन समझ सकता है? अभी हाल ही में महाराष्ट्र की एक नगर परिषद के साइन बोर्ड पर उर्दू के इस्तेमाल को चुनौती देने वाली याचिका
AishMGhrana
AishMGhrana covers legal topics primarily related to corporate law, compliance, and regulatory frameworks in India. The blog discusses issues such as amendments to Section 8 companies, penalties for non-compliance, and procedural requirements under the Prevention of Money Laundering Act (PMLA). It also addresses the roles and responsibilities of reporting entities and designated directors under PMLA, as well as recent notifications affecting professionals like advocates and accountants. Additionally, the blog touches on legal disputes and interpretations in Indian courts, including language-related controversies in the Supreme Court.
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AMENDMENT OF ARTICLES OF SECTION 8 COMPANIES
Suppose a Section 8 company amends its articles without prior approval of the Registrar of Companies. In that case, the company shall be punishable with a fine which shall not be less than ten lakh rupees which may be up…
Reporting Procedure for Reporting Entities under PMLA
For reporting under the PMLA, every reporting entity shall appoint a “Designate Director.” According to Rule 2(1)(ba) of the PML (Maintenance of Record) Rules, 2005 (The Rules), a Designate Director is a person designated to ensure overall compliance under this…
THE REPORTING FRAMEWORK UNDER THE PMLA
Under the reporting framework of PMLA, a “reporting entity” has following duties:
1. Verification of Identity by Reporting Entity;
2. maintain a record of all transactions;
3. Furnish information to director; and
4. Due Diligence. Continue reading →
Newly Notified Reporting Entities under the PMLA
The impact of these two notifications on the “relevant persons”- an advocate, a chartered accountant, cost accountant or company secretary in practice- becomes “reporting entities” under the PMLA for these activities so notified. Continue reading →
Failure in Physical Verification – Removal of Name
This amendment effectively amends the notice for Notice by Registrar for removal of the name of a company from the register of companies in Form STK – 1. Continue reading →View post to subscribe to site newsletter.
Physical verification of the Registered Office of a Company
Physical verification of the Registered Office of a Company Continue reading →View post to subscribe to site newsletter.
DISCUSSION (PAPER) ON THE LIQUIDATION PROCESS
The present discussion paper on Streamlining the Liquidation Process intends to facilitate the consultation at an early stage and remove discrepancies. Continue reading →
Entities as Insolvency Professional!!
Whatever facility regulators are willing to provide to Insolvency Professional Entities should also be provided to Individual Insolvency Professionals. Continue reading →
Proposed Fee and Expenses Mechanism for Resolution Professionals
The Discussion Paper on Remuneration of an Insolvency Professional, dated 9 June 2022, issued by the Insolvency and Bankruptcy Board of India, is a welcome step. We will discuss the proposed amendment. Continue reading →